Bank of England Governor Mark Carney may have caused financial markets to react excessively when he warned that interest rates could rise sooner than expected, a former BOE policy maker said.
Thirty-five years ago this month, a U.K. central banker by the name of Peter Cooke was worrying about a surge in lending to developing countries.
Former Bank of England policy maker Adam Posen said Governor Mervyn King exerts too much power that goes unchallenged by officials at the central bank.
Former Bank of England policy maker Adam Posen said U.K. central bankers are likely to refrain “indefinitely” from further asset purchases as they mistakenly doubt the potency of quantitative easing.
The pound reached the strongest level in 20 months versus the euro as speculation the Bank of England is moving closer to raising interest rates boosted the allure of U.K. assets.
Bank of England Governor Mark Carney is edging closer to putting restraints on the U.K. housing market, and economists say that’s the right thing to do.
London house prices rose at their fastest pace since just before the panic at Northern Rock Plc marked the start of the financial crisis in the U.K.
Former Bank of England policy maker Adam Posen voiced skepticism that planned changes to a central bank lending program will be sufficient to rein in the U.K.’s house-price boom and said more probably needed to be done.
Bank of England policy maker Adam Posen called on central banks from Europe to the U.S. to be more aggressive in combating lackluster economic growth and inflation.
"Once you get a housing bubble, you need to lean against it very hard and it takes a lot of tools."
- Adam Posen on Jun 16, 2014
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